South Africa: Treasury Confirms Mini Budget Date

(file photo)

Finance Minister Tito Mboweni will table the Medium-Term Budget Policy Statement (MTBPS) in Parliament 30 October 2019, said the Ministry of Finance.

The ministry confirmed the availability and attendance of all principals for the tabling of the MTBPS -- also known as the mini budget -- next Wednesday.

"The MTBPS plays a critical role in the overall budget process because it sets out the policy framework for the upcoming budget and provides the country and its elected representatives an update on National Treasury's assessment of the current economic climate and outlook," said the ministry in a statement.

The upcoming MTBPS will describe the policy framework for the 2020 Budget and indicate any adjustments that may be recommended to Parliament in respect of the current year's expenditure plans.

As a statement of government policy, the ministry said, the MTBPS will also assess and explain the trade-offs and choices that must be made in order to ensure stable, balanced and sustainable economic growth.

Last month, Treasury announced the shift of the MTBPS, a week later than had been planned.

"The shift in the date from the usual week of 23 October 2019 has been necessitated by international commitments of both the Minister of Finance and President Cyril Ramaphosa," Treasury said at the time.

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